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National Strategy for Financial Inclusion (NSFI) 2025–30

09 Dec 2025 GS 3 Economy
National Strategy for Financial Inclusion (NSFI) 2025–30 Click to view full image

Background

  • Released on 01 December 2025 by RBI Governor Sanjay Malhotra.

  • Approved at the 32nd meeting of the Sub-Committee of the Financial Stability and Development Council (FSDC-SC).

  • Builds on achievements of NSFI 2019–24:

    • High bank account penetration

    • Greater insurance & pension coverage

    • Digital payments expansion

    • Improved credit access

Core Vision

  • Move from quantity to quality of financial inclusion.

  • Ensure every household and micro-enterprise can effectively use financial services for long-term stability and empowerment.

  • Promote equitable, resilient, future-ready financial inclusion.

Ecosystem Approach

  • Inclusion is not solely the duty of banks.

  • Strategy emphasises convergence of regulators, ministries, skilling bodies, livelihood missions, financial service providers, and consumer education platforms.

  • Aim: “Last-mile access → meaningful, secure, continuous usage”.

Panch-Jyoti: Five Strategic Pillars (with 47 action points)

1. Universal Access to Affordable and Suitable Financial Services

  • Provide accessible, responsible, affordable bouquet of services:

    • Savings, insurance, credit, pensions, payments.

  • Target both households and micro-enterprises.

  • Focus on financial safety and long-term security.

2. Gender-Sensitive & Resilience-Focused Inclusion

  • Women-led inclusion models and gender-responsive financial products.

  • Targeted financial literacy for women.

  • Enhance resilience of vulnerable and underserved groups.

3. Integrating Livelihoods, Skills, and Inclusion

  • Convergence of:

    • Skill development

    • Livelihood missions

    • Credit networks

  • Objective: boost entrepreneurship, employability, and income mobility.

4. Financial Education as Behavioural Transformation

  • Promote savings, responsible credit, insurance uptake, financial planning.

  • Special focus: first-time users, youth, small businesses.

5. Strong Consumer Protection & Grievance Redressal

  • Strengthen grievance systems, transparency, and data protection.

  • Critical for trust in digital and rural/semi-urban financial ecosystems.

Institutional Architecture

Developed by the Technical Group on Financial Inclusion & Financial Literacy (TGFIFL) with wide consultation.
Key stakeholders:

  • RBI, DEA, DFS (MoF)

  • SEBI, IRDAI, PFRDA

  • NABARD

  • National Skill Development Corporation (NSDC)

  • National Centre for Financial Education (NCFE)

Broad Goals for 2025–30

  • Institutionalise financial security habits.

  • Strengthen safety nets for vulnerable households.

  • Enable micro-enterprises to thrive within formal finance.

  • Build a financially confident India, leaving no one behind.

Prelims Practice MCQs

Q. Consider the following statements regarding NSFI 2025–30:

  1. It was approved at the 32nd meeting of the Sub-Committee of the Financial Stability and Development Council.

  2. It marks a shift from access-centric to quality-centric financial inclusion.

  3. It focuses exclusively on banking institutions for implementing inclusion measures.

Which of the statements given above is/are correct?
A. 1 and 2 only
B. 2 only
C. 1 and 3 only
D. 1, 2 and 3

Answer: A

Explanation:

  • Statement 1 is correct.

  • Statement 2 is correct — shift to quality.

  • Statement 3 is incorrect — strategy emphasises multi-stakeholder ecosystem.

Q. With reference to the Panch-Jyoti pillars of NSFI 2025–30, consider the following:

  1. One pillar focuses on integrating livelihood missions and skills with financial inclusion.

  2. One pillar is centred on gender-sensitive and resilience-oriented inclusion.

  3. One pillar aims to universalise financial services only for households, excluding micro-enterprises.

Which of the statements given above is/are correct?
A. 1 and 2 only
B. 2 only
C. 1 and 3 only
D. 1, 2 and 3

Answer: A

Explanation:

  • Pillar 1 includes households and micro-enterprises → statement 3 incorrect.

Q. Consider the following statements:

  1. NSFI 2025–30 identifies financial education as a driver of behavioural change.

  2. It includes targeted programmes for first-time financial users and youth.

  3. The strategy excludes insurance and pension products from its coverage.

Which of the statements given above is/are correct?
A. 1 and 2 only
B. 2 only
C. 1 and 3 only
D. 1, 2 and 3

Answer: A

Explanation:

  • Statement 3 is incorrect — NSFI includes insurance, credit, pensions, savings, payments.



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